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MFEC Public Company Limited

MFEC Public Company Limited

MFEC.BK
MFEC Public Company LimitedTH flagStock Exchange of Thailand
6.00
THB
+0.15
- -
2.65BMarket Cap
MFEC Public Company Limited
MFEC.BK
(Stock Exchange of Thailand)

Recent

price

6.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
9.96
10.9
8.3
10.75
11.63
7.55
7.3
6.71
7.56
8.34
10.5
11.08
12.23
15.19
15.35
15.54
15.69
Revenue per Share
0.26
0.54
0.41
0.53
0.61
0.45
0.5
0.35
-0.38
0.51
0.55
0.58
0.53
1.54
0.62
0.53
0.56
Basic EPS, GAAP
0.08
-1.59
2.15
1.62
-0.1
1.61
1.49
-1.01
0.19
-0.38
0.6
-0.39
0.49
-0.1
1.11
1.97
1.44
Free Cash Flow per Basic Share
0.33
0.35
0.33
0.33
0.45
0.5
0.33
0.35
0.26
0.2
0.35
0.4
0.4
0.4
0.4
0.5
0.5
Dividend per Share
1.88
1.8
1.6
1.82
2.01
1.96
2.14
2.14
1.51
1.79
1.95
2.14
2.27
3.39
3.59
3.56
3.72
Book Value per Share
3.03
2.83
2.5
2.76
3.01
3.03
3.3
3.29
3.3
3.57
3.71
3.91
4.03
5.15
5.34
5.2
5.42
Tangible Book Value per Share
260
375
439
440
441
441
441
441
441
442
445
443
443
442
439
443
444
Basic Weighted Avg Shares
2,595
4,089
3,646
4,731
5,132
3,334
3,221
2,962
3,339
3,688
4,671
4,910
5,421
6,719
6,739
6,882
6,964
Sales/Revenue/Turnover
3.71
167.31
5.55
5.08
5.9
8.33
5.36
4.81
2.23
7.67
6.65
6.42
4.54
1.8
4.89
4.99
4.72
Operating Margin (%)
29
48
62
68
64
63
47
49
47
45
74
73
74
72
86
84
87
Depreciation Expense
68
202
181
232
270
197
222
154
-166
225
245
257
235
681
272
235
248
Net Income, GAAP
15.93
21.57
19.16
17.6
17.88
20.5
19.93
18.27
- -
18.88
20.29
21.02
19.45
31.07
15.92
24.1
21.98
Effective Tax Rate (%)
2.62
4.95
4.97
4.91
5.27
5.9
6.89
5.2
-4.98
6.11
5.24
5.23
4.33
10.14
4.04
3.41
3.56
Profit Margin (%)
635
781
888
1,011
1,163
1,196
1,274
1,256
1,288
1,355
1,384
1,347
1,335
1,460
1,478
1,421
1,427
Working Capital
69
9
32
4
7
4
1
1
- -
- -
72
62
58
165
150
154
146
LT Debt
834
1,700
1,740
1,840
1,934
1,916
1,984
1,987
1,732
1,857
1,933
2,014
2,058
2,557
2,624
2,611
2,715
Total Equity
6.09
244.79
6.1
8.96
11.28
10.32
7.05
5.9
- -
12.84
12.77
11.09
7.62
2.81
8.84
8.78
8.63
Return on Invested Capital (%)
7.49
14.67
12.2
20.1
23.05
17.39
23.66
16.07
- -
29.56
27.12
21.42
15.21
33.47
13.68
12.2
12.76
Return on Capital (%)
14.19
34.75
26.28
30.87
32.03
22.44
24.52
16.31
-20.62
30.88
29.48
28.3
24.01
54.34
17.7
14.88
15.08
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
491
105
35
LT Borrowings
- -
- -
- -
LT Finance Leases
136
154
146
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
441
441
441
Market Capitalization
2,330
2,286
2,685

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
4,609
4,992
4,529
Cash, Cash Equivalents & STI
232
642
365
Accounts Receivable, Net
1,350
1,364
1,337
Inventories
- -
- -
211
Total Current Liabilities
3,164
3,571
3,102
Payables & Accruals
1,213
1,551
1,249
ST Debt
491
105
35
Deferred Revenue
1,349
1,803
1,725

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.5%
6.55%
-0.52%
Free Cash Flow
-253.95%
-337.25%
79.15%
Net Income, GAAP
-34.02%
22.52%
-13.76%
Sales/Revenue/Turnover
8.03%
8.38%
2.12%
Total Cash Common Dividend
- -
- -
25%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,781
1,657
1,577
1,724
6,739
2025
1,564
1,699
1,767
1,853
6,882
2026
1,646
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
0.2
0.21
- -
0.62
2025
0.14
0.08
0.17
- -
0.53
2026
0.17
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.4
- -
- -
0.4
2025
- -
0.5
- -
- -
0.5
2026
- -
- -
- -
- -
- -
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Business
MFEC Public Company Limited (MFEC.BK), a Thailand-based information technology company founded in 1997 and headquartered in Bangkok, provides systems integration, IT infrastructure solutions, maintenance services, professional IT consulting, program development, and cloud computing services to enterprise customers across banking, financial services, telecommunications, healthcare, and other sectors. The company offers DataWise solutions including modernized data platforms, advanced analytics, artificial intelligence, and database health-check packages; enterprise agility solutions comprising digital process automation, customer service platforms, and enterprise content management; holistic cybersecurity encompassing network security, data security, endpoint security, security assessments, cloud security, and DevSecOps; cloud technologies and hybrid infrastructure such as cloud platforms, enterprise networking, professional services, technical operations, wireless mobility, and network security; digital transformation and AI adoption solutions featuring business consulting, customer data platforms, growth marketing platforms, chatbots, and social listening; IIoT and smart solutions; AI-lab solutions; and electronic payment gateway services. MFEC operates primarily in Thailand through subsidiaries and associated companies including investments in PraIn FinTech Company Limited for mobile payment gateways and managed services, Promptnow Company Limited for software and hardware integration consulting, and others focused on software development and digital services; TIS Inc. of Japan serves as a major shareholder holding approximately 18% stake since 2014. In recent developments, Bluebik Group Public Company Limited acquired MFEC's Digital Delivery team of about 300 IT and software developers by the end of 2022 to bolster its digital transformation capabilities, creating synergies and cost efficiencies; the company maintains long-standing partnerships as a certified partner with F5 Networks since 2004 for security solutions, HashiCorp, ServiceNow, Google Cloud, and Denodo for data management, while continuing organizational adaptations to digital economy trends including people and business transformations amid COVID-19 and disruptive technologies.